SoftBank group may invest more than $1 billion in WeWork, a New York City-based provider of shared workspace services.
SoftBank and WeWork refused to comment.
WeWork, the seven year old company, is currently valued at nearly $17 billion and SoftBank’s valuation of the company is expected to be at or above this figure.

It is not the first time that SoftBank thought to invest in WeWork before but it pulled out.

SoftBank also recently had talks with Uber but there is no information if an investment is in the works.
Masayoshi Son, the CEO and chairman of SoftBank, told President Donald Trump that he will create 50,000 new jobs in the US as a result of his investment activities in the country.

Half of the $100 billion (£800 million) is going to go to US companies, according to a Tweet from Trump last December.
When the fund was announced, SoftBank said it will be made up with $45 billion (£37 billion) from Saudi Arabia via the Kingdom’s Public Investment Fund, $25 billion (£20 billion) from SoftBank, and $35 billion (£28 billion) from other global investors.
A number of tech giants have confirmed that they intend to contribute to the fund. Apple, for example, confirmed earlier this month that it plans to invest $1 billion (£800 million) in the fund. Other investors include Oracle founder Larry Ellison and chipmakers Foxconn and Qualcomm. Mubadala, a holding company established and owned by the government of Abu Dhabi, is planning to invest $10 billion.
The SoftBank fund is not yet finalized and until then, any investment in WeWork or other companies will not happen.
Finalizing the fund is expected in mid-February.

Leave a Reply

Your email address will not be published. Required fields are marked *